Price controls A increase economic efficiency. В benefit both consumers and firms. C result in inefficient outcomes. lead to more equitable outcomes than the market solution
Q: Question 5 The price of input X decreases by 15%. In response, the quantity of input Y demanded incr...
A: Answer (5): Given, Percentage decrease in price=-15%Percentage rise in quantity demanded=6% Elastici...
Q: What is the labor force participation rate?
A: Definition The labour force participation rate expresses the number of persons who work as a percent...
Q: A purchased a small condominium. He paid P350,000 as down payment and agreed to pay P35,000 every 3 ...
A: Down payment amount = P350000 Annuity or the installment amount = P35000 Interest rate = 12% Three m...
Q: If you deposit $10000 into a fund paying 6% interest. how much will be the amount after 1 years.
A: Deposit amount = $10000 Interest rate = 6% Time = 1 year
Q: Suppose the local authorities wanted to achieve a more drastic reduction in total pollution of 75 to...
A: Introduction Here local authorities wants to reduce total pollution. a) Suppose 35 permits issues to...
Q: 9. If the supply of and demand for a product decrease at the same time, then equilibrium a. quantity...
A: The economic dynamics that decide what providers are willing to create and what buyers are willing a...
Q: List the Good and Bad effect of global free trade in a country?
A: The economics as a study is based upon the idea that the resources which are used in the economy are...
Q: Suppose the central bank subscribes to a monetarist approach to monetary policy. The central bank be...
A: Disclaimer: Since you have posted a multi-part question, I am providing you with the answer to the f...
Q: Suppose the consumption of an economy is given by C = 20 +0.6Y The following investment function is ...
A:
Q: 21. In the following graph, if the need for healthcare is high Wages N. cow) S. A B w, D. Quantity o...
A: Factors that affect the demand for healthcare are needs, patients preferences, income, transportatio...
Q: What do you think is the significance of concept on foreign reciprocity?
A: International trade is a very important concept of economics which forms a very important part of th...
Q: What is the impact on the labour market due to a reduction the productivity of workers? Select one: ...
A: We know that, When the productivity of workers increases at any given wage rate the firms demand mor...
Q: The following consumption function of an economy is given3; 40+0.8Y where Y is national income If th...
A: Solution is given:
Q: 8unax a. Customer satisfaction is marketer's goal b. Customers' needs have to be understood by marke...
A: The concept of the marketing mix has been around since 1960, when the original four P's — product, p...
Q: Explain Marshall’s analysis of elasticity.
A: Please find the answer below.
Q: Based on the figure, which of the following would cause the aggregate demand curve to shift from AD1...
A: Aggregate demand shows an inverse relationship between price level and real GDP. It is a downward sl...
Q: An increase in the expected price of commodity would likely to follow the current supply and demand ...
A: Demand shows the quantities of goods that a customer is willing to buy at various prices over a part...
Q: $21 $18 Supply $15 $12 $9 $6 $3 Demand 100 200 300 400 500 600 700 Quantity of Key Lime Pies Part 1:...
A:
Q: A firm currently faces a market price of $7. If producing output where MC= $7, it would produce 11 u...
A: Actually in simple words we can say that the market price in the economy is generally known as the c...
Q: Consider the same marginal revenue functions. Suppose now that teams must share 40% of their reven...
A: as given in the question,. marginal functions are same, MRL = 125 - 125 WL MRS = 65 - 65 WS
Q: Holding all other factors constant, the quantity demanded of an asset is: O A. positively related to...
A: The curve that depicts various quantities of goods being demanded by individuals at various levels o...
Q: A three-sector economy has following input-output coefficient matrix and final demand vector: 05 100...
A: Answer:
Q: The constant percentage method will be used to depreciate a machine with an initial cost of P1.2 mil...
A: We have given that FC=P 1,200,000 Life of the machine = 12 years We have to calculate the minimal sa...
Q: The Fisher relationship may be described by the following equation in which R is the nominal rate of...
A: According to Fisher, the difference between nominal interest rate and real interest is approximately...
Q: Who is in the labor force?
A: Labor force concept The workforce, also referred to as the labour force, is the group of employed pe...
Q: What makes the Lincoln Electric system so successful in the United States?
A: In the United States, Lincoln Electric has had a lot of success.Their success is aided by the incent...
Q: Does the educational system perpetuate or reduceinequality?
A: Meaning of Macroeconomics: The term macroeconomics refers to the situation of economic and scarcit...
Q: Assume that the demand curve is a straight line. If the price per unit of a good rises from $4.50 to...
A: Price elasticity of demand means percentage change in quantity demanded due to the percentage change...
Q: Go through the below visual and change it to tell a good story. Apply the story-telling techniques t...
A: The given picture represents the budgetary expenditure of India. It shows how India is spending its ...
Q: e. How would you explain your description in part (b) in terms of a supply and demand model of the m...
A: e) The employment to population ratio has decreased in the recession of 2008. Unemployment has risen...
Q: The following are the prices of commodities in 2016 and 2017. Calculate price index based on price r...
A: Use the below formula to find the relative price: Price relative = P1P0×100
Q: firm buys up all the rest of the hot dog vendors in the city and operates as a monopoly. Assume that...
A: In a perfectly competitive market, price is constant so it is equal to marginal revenue. Firms maxim...
Q: You can invest in asset A, which offers a riskless payoff of $15,000 or in asset B, which pays $5,00...
A: Utility: The term utility in economics, refers to the usefulness a consumer can get from a service o...
Q: Consider a competitive market for which the quantities demanded and supplied (per year) at various p...
A: Given information:
Q: annual benefits from the company a revenue?
A: Revenue refers to the entire amount of money earned through the sale of goods and services related t...
Q: 4. (a) International trade makes all the consumers, the producers and the country better off. Why or...
A: Labor force refers to the sum of all the workers in a country at any point of time. It is the sum of...
Q: The inverse demand for energy-efficient refrigerators is P = 2,000 – 10Q, where Q measures refrigera...
A: The marginal external benefit is added to marginal private benefit to get marginal social benefit. ...
Q: Analyse the Situational environments with example organization. (E.g. External such as PESTEL, Porte...
A: PESTLE are the tools that would make the company understand the competitive positions in the markets...
Q: Is it worth investing in a project that costs up to 600 million dollars across 11 years but is expec...
A: Discount rate refers to the rate or interest rate by which future values are discounted such that th...
Q: Use of credit information in rate determination for a new applicant requires Agreement of producer D...
A: A credit agreement is a contract between a lender and a borrower.Creditworthiness or credit history ...
Q: In the city of Guangzhou, there are 1 million civilians (over 16 years old, non-institutionalized). ...
A: 1. Labor force participation rate=Employed+UnemployedLabor force (16 and above)x100 ...
Q: In 2006, the Federal Reserve System decides to lower the money supply and raise interest rates in or...
A: Equilibrium in the goods market is reached at the intersection of AD and AS curves.
Q: asphalt road requires no upkeep until the end of 3 years when P70,000 will be needed for repairs. Af...
A: Clear solution given below,
Q: Price S1 20 18 16 14 SO Demand 300 400 500 1000 Quantity Assume that the market in the graph above i...
A: Tax revenue is the money that government gets as tax receipts by taxing a good.
Q: 2A. In the lower mainland the equilibrium market rental rate is at $1,500/month and the equilibrium ...
A: Market rental rate = $1500/month Equilibrium quantity = 8000 units Rent control rate = $1800/ month
Q: Refer to the table above. If the market is perfectly competitive, the equilibrium price of calculato...
A: In economics, a reservation price is a limit on the price of a good or a service. On the demand side...
Q: Assume the market interest rate is 8% per year and inflation averages 5% per year. calculate the per...
A: those type of items that have a limited life, their perpetual equivalent annual worth is essentiall...
Q: Find the value of the primary deficit if the fiscal deficit is 186 and the interest payment by the ...
A: Given: Fiscal deficit=186 Interest payment by the government=131
Q: At what output price would the farmer be indifferent in producing the 500 units of output given that...
A: Given; Output units= 500 units Fixed cost of producing output Y= P150,000 Variable Cost= P300 per un...
Q: Suppose that Bangladesh, a relatively poor, agricultural nation with a low level of technological de...
A: 1. The answer is - d. Enhanced flow of ideas
Step by step
Solved in 2 steps
- Question 26 The economic entity most likely to engage in price gouging is the manufacturer of the product, such as a Honda generator. a national big-box store, such as Target or Walmart. a local, regular supplier of the product. an individual or business who has a supply of the product somewhere else. a local resident who wants to get rid of his or her own product.A price-discriminating company can attract more customers by _ price, as long as reducing; the price is above marginal benefit and below marginal cost raising; the price is above marginal benefit and below marginal cost O reducing; the price is above its marginal cost raising; new customers are convinced to pay the pricePrice Per Unit Quantity Demanded Per Year Quantity Supplied Per Year $ 5 2,000 0 10 1,800 300 15 1,600 600 20 1,400 900 25 1,200 1,200 30 1,000 1,500 Refer to the above table. A shortage of 1,500 units will occur when the price is
- Price SESTRESS 90 85 80 75 70 65 60 55 50 45 40 35 30 25 20 15 10 5 $75; The reservation price for consumers is $0; $30; Market for Laptop Chargers $45: 0 5 10 15 20 25 30 35 40 45 50 55 60 65 70 75 80 Quantity -Demand Supply laptop marketBecause of producer–producer rivalry, the price will tend to Multiple Choice rise up to the maximum price the consumers are willing and able to pay. be the same as the monopoly price. be driven to a lower price. be the same as the competitive price.The following are the necessary conditions which must be fulfilled for the implementation of price discrimination except for ______ a. there should be no arbitrage b. the market must be divided into sub-markets with different elasticities of demand c. the good or service in question should not be resaleable d. the market must be divided into sub-markets with different elasticities of supply
- The marginal cost pricing model calculates a markup over marginal costs using estimates of the price elasticity of demand. Will any other pricing strategy result in higher profits?Plotted through point E are two demand curves; one is relatively elastic, and the other is relatively inelastic. Each demand curve also has its own marginal revenue (MR) curve. Merge these curves into a kinked demand curve by moving the curves' endpoints to remove the unwanted sections of the curves. Then, adjust the marginal revenue curves to properly accompany the new kinked demand curve. Price ($) 500 450 400 350 300 250 200 150 100 50 0 0 2 4 6 E MR 2 8 10 Quantity 12 14 Demand 1 16 MR 1 Demand 2 18 80 Question 20You are an owner of a local Toyota dealership. Your dealership earned record profits of 13 million. In your market, you compete against two other dealers, and the market-level price elasticity of demand for Toyota cars is -1.5. The marginal cost of a car is 120000. What price should you charge for a Toyota car if you expect to maintain your profits?
- Price(per bottle) Quantity supplied Normal timesquantity demanded Hurricanequantity demanded $6 100 25 75 $5 85 35 85 $4 70 45 95 $3 55 55 105 $2 40 65 115 $1 25 75 125 Concerned with citizen complaints of price gouging during past hurricanes, Florida's state government passes a law setting a price ceiling for a bottle of water equal to the market equilibrium price during normal times. After all, it seems unfair that sellers of water gain because of a hurricane. During a hurricane, there would be a shortage of bottles of water. Without the antiprice gouging law, consumers would have to pay $ more than the ceiling price, but they would be able to buy more bottles of water.If the Nigerian government were to enforce a price floor of US $20 a) Both Starlink and FiberOne would be out of business. b) More Nigerians would have acceaa to the internet. c) There would be no changes experienced by both consumers as well as the internet service providers. d) There would be more demand for internet servicesMatch each label to the situation it describes. Drag each item on the left to its matching item on the right. The government caps the prices a cortpany can charge. The total surplus in a market is lower than it could be. A group seeks to restrict the number of government-issued licenses. A monopolist sells products grouped together rather than separately.